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<br />103 SECTION 6: ATTACHMENTS | 2014_0122 <br /> <br />6.5 NEW JERSEY PROMPT PAYMENT ACT - The New Jersey Prompt Payment Act, N.J.S.A. 52:32-32 et seq., requires state <br />agencies to pay for goods and services within sixty (60) days of the agency's receipt of a properly executed State Payment Voucher or <br />within sixty (60) days of receipt and acceptance of goods and services, whichever is later. Properly executed performance security, <br />when required, must be received by the State prior to processing any payments for goods and services accepted by state agencies. <br />Interest will be paid on delinquent accounts at a rate established by the State Treasurer. Interest shall not be paid until it exceeds $5.00 <br />per properly executed invoice. <br />Cash discounts and other payment terms included as part of the original agreement are not affected by the Prompt Payment Act. <br />6.6 AVAILABILITY OF FUNDS – The State’s obligation to make payment under this contract is contingent upon the availability of <br />appropriated funds and receipt of revenues from which payment for contract purposes can be made. No legal liability on the part of the <br />State for payment of any money shall arise unless and until funds are appropriated each fiscal year to the using agency by the State <br />Legislature and made available through receipt of revenues.